Charter Trust Co. reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 88,761 shares of the transportation company’s stock after selling 818 shares during the quarter. United Parcel Service makes up about 1.7% of Charter Trust Co.’s portfolio, making the stock its 13th biggest holding. Charter Trust Co.’s holdings in United Parcel Service were worth $18,459,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of UPS. BDO Wealth Advisors LLC raised its holdings in United Parcel Service by 131.3% in the 1st quarter. BDO Wealth Advisors LLC now owns 155 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 88 shares in the last quarter. Corbenic Partners LLC acquired a new position in shares of United Parcel Service during the 2nd quarter worth $33,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of United Parcel Service during the 1st quarter worth $34,000. Optiver Holding B.V. acquired a new position in shares of United Parcel Service during the 1st quarter worth $35,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of United Parcel Service during the 1st quarter worth $43,000. Institutional investors own 56.98% of the company’s stock.
Shares of UPS stock traded down $0.49 on Tuesday, reaching $188.90. The company’s stock had a trading volume of 56,639 shares, compared to its average volume of 3,337,310. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.94. United Parcel Service, Inc. has a 12-month low of $154.76 and a 12-month high of $219.59. The company has a market capitalization of $164.54 billion, a P/E ratio of 27.02, a PEG ratio of 1.49 and a beta of 1.06. The stock’s 50 day simple moving average is $197.07 and its 200-day simple moving average is $194.77.
United Parcel Service announced that its board has authorized a share buyback plan on Thursday, August 5th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 9th. Shareholders of record on Monday, August 23rd were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Friday, August 20th. This represents a $4.08 dividend on an annualized basis and a yield of 2.16%. United Parcel Service’s payout ratio is 49.57%.
A number of equities analysts have recently commented on UPS shares. Citigroup boosted their price target on United Parcel Service from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, June 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on United Parcel Service from $260.00 to $237.00 and set a “buy” rating on the stock in a research report on Thursday, June 10th. JPMorgan Chase & Co. set a $192.23 price objective on United Parcel Service in a research report on Tuesday, July 27th. Stifel Nicolaus began coverage on United Parcel Service in a research report on Monday, June 21st. They issued a “hold” rating on the stock. Finally, Raymond James upped their target price on United Parcel Service from $223.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Friday, June 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $205.75.
United Parcel Service Company Profile
United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.
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